Northrop Grumman Co. (NYSE:NOC) declared a quarterly dividend on Wednesday, August 21st, NASDAQ reports. Investors of record on Monday, September 9th will be paid a dividend of 1.32 per share by the aerospace company on Wednesday, September 25th. This represents a $5.28 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Friday, September 6th.
Northrop Grumman has increased its dividend by an average of 14.9% per year over the last three years and has increased its dividend every year for the last 11 years. Northrop Grumman has a dividend payout ratio of 31.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Northrop Grumman to earn $22.39 per share next year, which means the company should continue to be able to cover its $5.28 annual dividend with an expected future payout ratio of 23.6%.
Shares of Northrop Grumman stock opened at $372.79 on Thursday. The stock has a market cap of $61.97 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 1.50 and a beta of 0.79. The firm’s 50-day moving average is $355.73 and its 200 day moving average is $310.61. Northrop Grumman has a 1 year low of $223.63 and a 1 year high of $377.34. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.25 and a quick ratio of 1.15.
A number of equities analysts recently issued reports on the stock. Bank of America reiterated a “buy” rating and issued a $405.00 price target (up previously from $355.00) on shares of Northrop Grumman in a research note on Thursday, July 25th. Sanford C. Bernstein upped their target price on shares of Northrop Grumman from $344.00 to $368.00 in a research note on Thursday, July 25th. Morgan Stanley upgraded shares of Northrop Grumman from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $335.00 to $418.00 in a research note on Tuesday, August 6th. Robert W. Baird upped their target price on shares of Northrop Grumman from $300.00 to $364.00 and gave the company an “outperform” rating in a research note on Wednesday, July 10th. Finally, Credit Suisse Group upped their target price on shares of Northrop Grumman from $364.00 to $385.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $345.93.
In other Northrop Grumman news, CEO Kathy J. Warden sold 6,837 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $353.46, for a total transaction of $2,416,606.02. Following the transaction, the chief executive officer now owns 99,002 shares in the company, valued at approximately $34,993,246.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Christopher T. Jones sold 5,000 shares of the company’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $353.19, for a total transaction of $1,765,950.00. Following the sale, the vice president now directly owns 67,422 shares of the company’s stock, valued at approximately $23,812,776.18. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by corporate insiders.
About Northrop Grumman
Northrop Grumman Corporation, a security company, provides products in the areas of autonomous systems, cyber, space, strikes, and logistics and modernizations in the United States, the Asia Pacific, and internationally. The company operates through four segments: Aerospace Systems, Innovation Systems, Mission Systems, and Technology Services.
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